If you are interested in payroll services in Russia, our specialists in the field can offer you the necessary support for the company you own. Payroll in Russia involves dedicated procedures for calculating and distributing salaries in a company. You can find in the following lines some information about the formalities involved in this process, mentioning that you can get in touch with us for such services.
Payroll in Russia involves standard procedures for calculating salaries, followed by their delivery to employees’ accounts. Among them, we mention:
We invite you to discuss more about payroll in Russia with one of our specialists. We have a dedicated team of accountants in Russia who can be hired for your business in this country.
The payroll closing process involves reporting and compliance. In this phase, all the necessary tax forms are returned, depending on the deadline, deductions are made where appropriate, and the withholding of social insurance contributions. This step is extremely important in payroll in Russia, so we recommend our team of specialists for more information and support.
Around RUB 16,000 (USD 208) is the minimum wage in Russia. However, there are regions and cities where this salary differs. Thus, in Saint Petersburg, there are salaries that can reach or exceed the amount of RUB 19,000, while in Moscow there are salaries of over RUB 20,000. Regarding the contributions paid by the company, we list:
We mention that such contributions are calculated at the gross salary per economy. On the other hand, overtime payment is considered when calculating the salaries in the firm.
According to the Employment Law in Russia, when a job is accepted, an employment contract is concluded, either part-time or full-time. Such a contract must contain information about the employing company, the type of activities, working hours, working conditions, internal regulations, as well as remuneration. Also, an employment contract must stipulate whether it is for a fixed or indefinite period, plus general rules for ceasing such a contract.
Russia is an attractive country in terms of workforce, and foreign companies in this country enjoy an advantageous tax system in this regard. Here are some interesting statistical data about employment in Russia:
Do you want information about payroll in Russia? We invite you to contact our team of local agents, including our accountants, for all the information that interests you.